Most Popular
1. Banking Crisis is Stocks Bull Market Buying Opportunity - Nadeem_Walayat
2.The Crypto Signal for the Precious Metals Market - P_Radomski_CFA
3. One Possible Outcome to a New World Order - Raymond_Matison
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
5. Apple AAPL Stock Trend and Earnings Analysis - Nadeem_Walayat
6.AI, Stocks, and Gold Stocks – Connected After All - P_Radomski_CFA
7.Stock Market CHEAT SHEET - - Nadeem_Walayat
8.US Debt Ceiling Crisis Smoke and Mirrors Circus - Nadeem_Walayat
9.Silver Price May Explode - Avi_Gilburt
10.More US Banks Could Collapse -- A Lot More- EWI
Last 7 days
Stock Market Volatility (VIX) - 25th Mar 24
Stock Market Investor Sentiment - 25th Mar 24
The Federal Reserve Didn't Do Anything But It Had Plenty to Say - 25th Mar 24
Stock Market Breadth - 24th Mar 24
Stock Market Margin Debt Indicator - 24th Mar 24
It’s Easy to Scream Stocks Bubble! - 24th Mar 24
Stocks: What to Make of All This Insider Selling- 24th Mar 24
Money Supply Continues To Fall, Economy Worsens – Investors Don’t Care - 24th Mar 24
Get an Edge in the Crypto Market with Order Flow - 24th Mar 24
US Presidential Election Cycle and Recessions - 18th Mar 24
US Recession Already Happened in 2022! - 18th Mar 24
AI can now remember everything you say - 18th Mar 24
Bitcoin Crypto Mania 2024 - MicroStrategy MSTR Blow off Top! - 14th Mar 24
Bitcoin Gravy Train Trend Forecast 2024 - 11th Mar 24
Gold and the Long-Term Inflation Cycle - 11th Mar 24
Fed’s Next Intertest Rate Move might not align with popular consensus - 11th Mar 24
Two Reasons The Fed Manipulates Interest Rates - 11th Mar 24
US Dollar Trend 2024 - 9th Mar 2024
The Bond Trade and Interest Rates - 9th Mar 2024
Investors Don’t Believe the Gold Rally, Still Prefer General Stocks - 9th Mar 2024
Paper Gold Vs. Real Gold: It's Important to Know the Difference - 9th Mar 2024
Stocks: What This "Record Extreme" Indicator May Be Signaling - 9th Mar 2024
My 3 Favorite Trade Setups - Elliott Wave Course - 9th Mar 2024
Bitcoin Crypto Bubble Mania! - 4th Mar 2024
US Interest Rates - When WIll the Fed Pivot - 1st Mar 2024
S&P Stock Market Real Earnings Yield - 29th Feb 2024
US Unemployment is a Fake Statistic - 29th Feb 2024
U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - 29th Feb 2024
What a Breakdown in Silver Mining Stocks! What an Opportunity! - 29th Feb 2024
Why AI will Soon become SA - Synthetic Intelligence - The Machine Learning Megatrend - 29th Feb 2024
Keep Calm and Carry on Buying Quantum AI Tech Stocks - 19th Feb 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Nasdaq Still Waiting to Resolve Bull Market or Bear Market Rally

Stock-Markets / Stock Index Trading Aug 14, 2009 - 01:44 PM GMT

By: Marty_Chenard

Stock-Markets

Best Financial Markets Analysis ArticleOne week has passed, and it has not yet been resolved ...

Many investors believe the current NASDAQ 100 run-up has been a Bull market rally. Others think it has been a Bear market rally. What's the answer?


The answer is pretty easy to decipher if you simply look at a 10 year chart of the NASDAQ 100 ... see the chart below.

This is a 10 year chart of the NASDAQ 100 showing the 1999 Bull move and the subsequent crash of the NASDAQ.

What was important was the giant triangular pattern from 2000 to 2008. The recent drop on the NASDAQ 100 occurred after the index could not hold above the support line at label 4. Just before that drop, the NASDAQ 100 had finished its 4th. touch point on its resistance line with a downside failure.

So, after a retest of the lows earlier this year, the NASDAQ 100 has been on a vigorous upside rally. So, was it a Bull or Bear market rally?

Well, if you look at the chart, you can see our new label #5. That is where the NASDAQ's 10 year resistance line currently is. The current rally is about to meet a very formidable 10 year resistance line. Since the NASDAQ 100 has not made it above this resistance line yet, the rally has been a Bear market rally.

So, now its truth or consequence time. Will the NASDAQ 100 break above the resistance or fail to the downside? See the next chart ...

This next chart is a close up of the above chart as of the close yesterday.

Here, you can see that we are now dealing with two resistance lines ... one a 10 year resistance, and the other is a 22 month resistance line.

At the close yesterday, we were TESTING the 10 year resistance line. Since this current rally has remained below its long term resistance line, this has technically been a bear market rally.

Now the important questions hangs before us ... will the NASDAQ 100 fail at resistance level(s) 5, or will it continue up and peek over the Bull market's fence? (This chart is updated daily on our paid subscriber site.)

    ________________________________________________

*** Feel free to share this page with others by using the "Send this Page to a Friend" link below.

Send This Page To a Friend

By Marty Chenard
http://www.stocktiming.com/

Please Note: We do not issue Buy or Sell timing recommendations on these Free daily update pages . I hope you understand, that in fairness, our Buy/Sell recommendations and advanced market Models are only available to our paid subscribers on a password required basis. Membership information

Marty Chenard is the Author and Teacher of two Seminar Courses on "Advanced Technical Analysis Investing", Mr. Chenard has been investing for over 30 years. In 2001 when the NASDAQ dropped 24.5%, his personal investment performance for the year was a gain of 57.428%. He is an Advanced Stock Market Technical Analyst that has developed his own proprietary analytical tools.  As a result, he was out of the market two weeks before the 1987 Crash in the most recent Bear Market he faxed his Members in March 2000 telling them all to SELL.  He is an advanced technical analyst and not an investment advisor, nor a securities broker.

Marty Chenard Archive

© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in